“You never actually own a Patek Philippe. You merely look after it for the next generation,” Patek Philippe, the watchmaker, tells its customers. While such a statement may be music to the ears of environmentalists, until recently little evidence could be found that the luxury goods industry has taken environmental sustainability beyond marketing messages.
In a 2007 ranking by WWF of environmental, social and governance (ESG) performance of the 10 largest publicly traded luxury brands, the highest grade awarded was a C+.
